Collaboration alongside the use of data analytics and digital processes have led to key successes in Singapore’s anti-money laundering and counter financing of terrorism (AML/CFT) effectiveness according to assistant managing director of the Monetary Authority of Singapore (MAS). Loo Siew… Read More ›
A New York City-based startup aims to launch an artificial intelligence (AI) based platform that could help detect trade-based money laundering (TBML). The platform aims to bring transparency to the supply chain on a global scale by providing an international… Read More ›
Six people have been arrested in the US in connection with their roles in a fraud and money laundering conspiracy based in Ghana involving the theft of tens of millions of dollars. Those arrested employed trade-based money laundering (TBML) operations… Read More ›
Banks can help organisations intent on preserving the earth’s fisheries, forests, wildlife and other natural resources by employing the increasingly sophisticated technologies used to monitor correspondent relationships or their trade finance operations according to the compliance lead at FICO, the… Read More ›
The Reuters news agency has highlighted a case of what one US source familiar with the investigation described as “the most sophisticated form of money laundering that’s ever existed”. The way such operations work involve legitimate merchants and traders, sometimes… Read More ›
A US congressional commission has called on the authorities to radically reform anti-money laundering (AML) operations by blocking the flow of illicit funds using complex cross-border financial transactions and cryptocurrencies. The commission is specifically concerned about black-market peso exchange trade-based… Read More ›
The National Defence Authorisation Act 2021 has directed the US treasury department to conduct a study and devise a strategy to deal with trade-based money laundering (TBML). The study, which will be contracted out to a third-party entity, will include… Read More ›
The US treasury has been ordered to carry out a study on money laundering by China that will “rely substantially” on information obtained through the trade-based money laundering (TBML) analyses behind the US Government Accountability Office’s (GAO’s) detailed report that… Read More ›